Hong Kong Stocks Review | All three major indexes fall! Semiconductor sector plunges, SMIC drops over 6%; biopharmaceutical and gold stocks see major corrections

Hong Kong Stock Market

Hong Kong Stock Market Closing: All Three Major Indices Fall! Semiconductor Sector Plunges, Biopharmaceutical and Gold Stocks See Major Corrections

On September 4, the Hong Kong stock market continued its decline from yesterday, with all three major indices opening high and closing low, and market sentiment remained sluggish. By the close, the Hang Seng Index fell 1.12%, barely holding the 25,000-point mark, the China Enterprises Index dropped 1.25%, and the Hang Seng Tech Index declined 1.85%.

On the board, most heavyweight stocks such as large tech companies and major financial stocks (banks, insurance, brokerages) performed poorly, dragging the market down. Among them, Alibaba-W fell 3.2%, Xiaomi Group-W dropped more than 2%, China Merchants Securities and GF Securities both fell nearly 2%, China Pacific Insurance dropped more than 5% leading the decline among domestic insurance stocks, and although some domestic bank stocks rebounded slightly at the end of the session, the overall performance remained weak;

Semiconductor and chip stocks saw significant declines, with Ingenic Semiconductor falling more than 7%, SMIC and Fudan Microelectronics dropping over 6%, and Hua Hong Semiconductor down more than 5%;

Due to profit-taking, gold prices weakened, leading to a sharp correction in gold stocks that had been rising for several sessions. Tongguan Gold fell nearly 9%, China Gold International and Lingbao Gold both dropped more than 7%;

Biopharmaceutical stocks generally declined, with Hengrui Medicine down 6.71%, Innovent Biologics down 6.45%, 3SBio down 5.04%, Hansoh Pharmaceutical down 4.52%, CSPC Pharmaceutical Group down 3.56%, and China Biopharma down 2.78%.

On the other hand, some consumer stocks such as agricultural products, catering, and dairy stocks bucked the trend and rose. Xiaocaiyuan, Yum China, and Xiabu Xiabu all posted gains. Wind power and film & entertainment stocks surged during the session, with Orange Sky Golden Harvest rising more than 25% intraday and China Literature closing up nearly 6%.

A-share Market

A-share Closing: STAR 50 Index Drops Over 6%, ChiNext Index Down Over 4%; CPO, Semiconductor Plunge, Consumer Sector Rises Against the Trend

On September 4, major A-share indices collectively fell. By the close, the Shanghai Composite Index dropped 1.25% to 3,765 points, the Shenzhen Component Index fell 2.83%, the ChiNext Index declined 4.25%, and the STAR 50 Index plunged 6.08%. The total trading volume for the day was 2.58 trillion yuan, an increase of 186.2 billion yuan compared to the previous trading day. Nearly 3,000 stocks across the market declined.

On the board, the CPO concept sector plunged, with more than ten stocks such as Tianfu Communication, Taichenguang, and New Easy-Sun dropping over 10%; semiconductor and memory chip sectors also saw sharp declines, with Cambricon, Hygon Information, and Hua Hong Technology among many stocks falling over 10%; the communication equipment sector weakened, with Cambridge Technology hitting the limit down; PCB and electronic component sectors were weak, with Dongshan Precision and Shanghai Electric Group among many stocks hitting the limit down; lidar, lithography machine, military industry, liquid cooling, and minor metals sectors were among the top decliners.

In addition, commercial retail and tax-free shop sectors bucked the trend and strengthened, with Guoguang Chain and Baida Group among many stocks hitting the limit up; the consumer sector rose, with dairy, pre-made dishes, and food & beverage leading the gains, and Huanlejia and Anji Foods among many stocks hitting the limit up; the banking sector fluctuated upward, with Agricultural Bank of China reaching a new high; the pet economy sector surged, with Yiyi Co. hitting the limit up; outdoor camping, supply and marketing cooperative concepts, and tourism & hotel sectors were among the top gainers.